As Seen in The Real Deal: Distress call: Foreclosures threaten 13 South Florida dev sites

A growing number of South Florida development sites are showing signs of financial distress as projects launched during the pandemic boom collide with today’s tougher market realities. Rising interest rates, higher construction costs, and expiring short term loans are putting pressure on developers who are struggling to refinance and keep projects moving forward.

As lenders grow less flexible and more deals edge toward foreclosure or restructuring, industry experts warn this may be just the beginning of a broader wave of challenges across the region’s development pipeline.

“There’s more in the pipeline,” Josh Rubens, a shareholder with Miami law firm Kluger Kaplan, told TRD. “I think there have been some extensions over the last 12 to 24 months that you will be seeing headlines about in the next six to 12 months, as those maturities hit.”

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